USD/CHF
The pair is trading below the short, medium and long-term moving averages. During yesterday's session, the pair hit the 50-day Sma and closed below it. The hope of the bulls dried up. Again, the pair favors "selling the rally strategy" until it closes above the 0.8922 levels.
The pair has strong resistance at 0.8922 (50-day Sma) in the near term.
As for the short-term resistance, it existed at 0.90 (50-week Sma)
For the medium-term resistance, it existed at 0.9225 (50-month Sma)
Traders can use any rally to exit longs until it closes a week above the 0.90 levels. Currently, the pair is trading at 0.8906, the lowest point of this week as of now. Fresh longs can take place between the 0.90 and 0.92 levels.
The material has been provided by InstaForex Company - www.instaforex.com
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